Global Crude oil price of Indian Basket was US$ 50.43 per bbl on 28.04.2017

Global Crude oil price of Indian Basket was US$ 50.43 per bbl on 28.04.2017

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 50.43 per barrel (bbl) on 28.04.2017. This was higher than the price of US$ 49.94 per bbl on previous publishing day of 27.04.2017.

In rupee terms, the price of Indian Basket increased to Rs. 3238.18 per bbl on 28.04.2017 as compared to Rs. 3201.83 per bbl on 27.04.2017. Rupee closed weaker at Rs. 64.22 per US$ on 28.04.2017 as compared to Rs. 64.11 per US$ on 27.04.2017.The table below gives details in this regard:

All Petrol Stations in Uttar Pradesh to be re- assessed by a Team of State STF, W&M Department, Civil Supplies Department and OMCs says Petroleum Minister

“Surprise checks on fuel stations to be conducted across the country”, Shri Dharmendra Pradhan

Shri Pradhan said consumer interest is paramount; Strict action will be taken against those found guilty

Minister of State (I/C) for Petroleum and Natural Gas, Shri Dharmendra Pradhan while addressing media today, congratulated the Uttar Pradesh Special Task Force for unearthing the racket involved in short delivery of fuel at petrol stations in Lucknow. These raids were carried at 11 petrol pumps out on specific information regarding tampering with fuel calibration by use of electronic chips. Of these, electronic chips were found at 9 fuel stations, 3 of which belong to IOCL and the other 6 belong to BPCL.

The Minister said that he held talks with the Uttar Pradesh Chief Minister, Chief Secretary and DGP of Uttar Pradesh on this issue. The Central and State Governments have decided to hold a meeting in Lucknow in light of the raids, which would be chaired by the Chief Secretary, Uttar Pradesh and will be attended by representatives of Ministry of Petroleum and Natural Gas and Oil Marketing Companies.

The Minister said that all fuel stations in Uttar Pradesh will be re-assessed by a team comprising of representatives from State Government’s Weight and Measures Department, Civil Supplies Department, Special Task Force and the Oil Marketing Company. At the same time, random surprise checks will be conducted all across the country at fuel stations. The instructions to this effect have been given to all concerned. Shri Pradhan said that the Central Government hopes for full cooperation from the States as Weights and Measures is a State subject and the annual supervision cum certification of fuel delivery units at fuel stations is carried out by the Weights and Measures Departments of the concerned State.

Shri Pradhan said consumer interest is paramount and that strict action will be taken against those found guilty of tampering with fuel calibration. He said that those dealers violating the Marketing Discipline Guidelines (MDG) will also face strict action mounting to even termination of licences.

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Under-recoveries for the month of May 2017 will be Rs. 10.68 per litre for PDS Kerosene

The Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas has reviewed international prices of crude oil and petroleum products for the month of April 2017. In the case of PDS Kerosene, the under-recoveries with effect from May 1, 2017 will be Rs 10.68 per litre. The under-recovery was Rs. 11.05 per litre in the first fortnight of April 2017 and Rs. 10.80 in the last fortnight of the month. The cash transfer to customer under DBTL will be Rs. 188.23, out of which Rs. 159.64 will be Cash Compensation on Domestic LPG by Govt. to consumers & Rs 28.59 will be the Cash compensation on Domestic LPG by OMCs towards ‘Uncompensated Costs’ to consumers.